EU Assembly Seeks Depositor Preference in Bail-In Law Deal
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Uninsured depositors would be placed last in line for forced losses, or bail-ins, at failing banks under draft plans agreed on by the European Parliament, according to the assembly’s lead legislator on the measures.
Lawmakers from the “major political groups” included the change in a draft accord on legislation aimed at shielding taxpayers from having to rescue banks, Gunnar Hoekmark, a Swedish member of the EU parliament, told reporters in Brussels. Unsecured debt with a maturity of less than one month and deposits of as much as 100,000 euros ($130,000) would be exempted from losses, he said.